Please help; this is very important to me? Question about enrollment and government grants?

Question

I asked this question about 20 minutes ago, but am very desperate for an answer as soon as possible (no one is available to speak with me at the university right now as it is closed). Okay, so here goes (and I really appreciate whoever may read all of this and try to respond):
I am a full-time college student. I have already received grants from the government to cover this year's enrollment fees. I am also filing taxes stating that I am a full-time student. There are two months left in the semester and I want to drop one of my classes that I am going to fail, thus taking away my full-time student status and deeming me a part-time student for the rest of this semester.
The question: Will this affect my government loans? They can't take the money back that they have already awarded me (I'm assuming), but will there be some sort of penalty? Also, will this affect my tax return? Do I need to mention that I was a part-time student for two months? Does it even matter?

THANK YOU! :D

Answer 1

You WILL NOT have to pay any money back. I was in the same situation once. Even though it'll drop you below the required full-time status hours, you'll still be considered a full-time student. I have dropped classes two semesters in a row right near the last day to drop classes. The first time I dropped down to 10 hours. The second time, it dropped me down to 9 hrs. I have never had to pay any money back. I checked my enrollment verification recently, and it has listed beside each semester that I was a FULL-TIME student, so NO, NOTHING WILL CHANGE at all. That's if you do as you're planning to do and wait until there's only about 2 months left. If you dropped a course near the beginning, I'm sure it would be a different situation though. But don't worry!!

Answer 2

You don't need to mention it for your tax returns. You can claim you are a student even if it is just for most of the year.

If you have not made it past the drop/add period, your money will be refunded to the government and you won't owe the school.

If you are after the drop/add period at your school, your enrollment status will change and it will affect your aid. I don't know your specific school, so I do not know how much they will charge for the amount of time you were enrolled (usually it's a percentage based on your completion of the class). I also don't know where you are in the semester and how much financial aid will cover.

If it covers it, you won't owe. If it doesn't cover, you will have to pay it out of pocket to the school.

Call your FA counselor first thing tomorrow or email him/her tonight. Good luck!

Answer 3

you can be required to pay them back and lose your grace period if you change your status from full time to part time.

also withdrawing from a class isnt a surefire fix. if you are planning on transferring some colleges are really picky with how many classes you've withdrawn from.
the best thing to do is talk to your professor and try and figure out a plan for passing even if its not the best grade.

if they wont help you, talk to a dean and try and have them set you up with a tutor.
good luck.